The auto-maker had celebrated its return to the investment-grade universe last month, an upgrade that allowed it to reclaim its Blue Oval back. And now it has managed to raise funding outside of junk for the first time in seven years.

Ford sold $1.5 billion of five-year bonds–its largest deal since April 2010, according to data provider Dealogic–at a yield of 3.008%, or 2.3 percentage points more than the five-year Treasury rate. When it sold five-year bonds in February, it had to pay 4.25%, or 3.54 points more than Treasurys.

The much lower financing cost reflects the savings Ford can attain now that high-grade investment accounts can own its bonds. Moody’s Investors Service upgraded Ford and Ford Motor Credit Corp., which issued the bonds, to investment-grade two weeks ago, following a similar move by Fitch Ratings.

Ford is just the latest U.S. corporate titans to head to market shortly after having its rating upgraded.

Tyson Foods earlier this week launched a $1 billion debt sale for 10-year notes at a 4.5% yield. It will use those funds to pay off debt coming due in 2014 that was paying a hefty 10.5% coupon. That savings came after Fitch upgraded Tyson earlier this year and Moody’s gave it a positive outlook.

J.P. Morgan was among the lead underwriters on both debt deals. Bank of America-Merrill Lynch and RBC were also among the leads on both deals.

Huw Richards, J.P. Morgan’s co-heads of investment grade finance, said it shows that even with Europe in turmoil, these companies are able to put strong cash flow and strengthening balance sheets to use deleveraging themselves in order to get back to investment grade.

“The names on the upswing tend to generate a meaningful amount of excitement in the market,” Richards said. “When [upgraded corporates] return to full investment grade, it is a pretty significant time to get involved at the crossover point.”

Tom Cassin, J.P. Morgan’s other co-head of investment grade finance, added that the recent success of several companies to raise cheap debt is drawing others to the market.

“I would argue that success breeds success,” Cassin said.

Ford was upgraded in last May to investment grade by Moody’s which said at the time that improvements Ford had made in its performance “are likely to be lasting.”

That led to a celebration at Ford.

“Getting the Ford Blue Oval back feels amazing, and it is one of the best days that I can remember,” CEO Alan Mulally said.

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Deal Journal is an up-to-the-minute take on the deals and deal makers that shape the landscape of Wall Street, including mergers and acquisitions, capital-raising, private equity and bankruptcy. In short, wherever money changes hands. Deal Journal is updated throughout each trading day with exclusive commentary, analysis, data, news flashes and profiles. The Wall Street Journal’s David Benoit is the lead writer, with contributions from other Journal reporters and editors. Send news items, comments and questions to deals@wsj.com.